First Quantum Minerals (TSE:FM) Stock Price Down 2.1% – Time to Sell?

First Quantum Minerals Ltd. (TSE:FM)’s share price dropped 2.1% during mid-day trading on Monday . The stock traded as low as C$16.22 and last traded at C$16.22. Approximately 179,776 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 2,680,467 shares. The stock had previously closed at C$16.56.

Analyst Upgrades and Downgrades

FM has been the topic of a number of research analyst reports. National Bankshares reduced their price target on First Quantum Minerals from C$25.50 to C$24.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Raymond James upped their target price on shares of First Quantum Minerals from C$20.00 to C$21.00 in a research note on Friday, April 4th. Canaccord Genuity Group upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price objective on First Quantum Minerals from C$18.00 to C$17.00 in a research note on Thursday, January 30th. Finally, Barclays reduced their price objective on shares of First Quantum Minerals from C$25.00 to C$23.40 in a research note on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$21.77.

First Quantum Minerals Stock Performance

The firm’s 50-day moving average is C$18.59 and its 200 day moving average is C$18.74. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The stock has a market cap of C$9.02 billion, a PE ratio of -5.88, a P/E/G ratio of -1.28 and a beta of 1.73.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.01. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. During the same period in the previous year, the company earned ($0.37) earnings per share. As a group, research analysts anticipate that First Quantum Minerals Ltd. will post 0.55872 EPS for the current year.

Insider Activity

In related news, Director Charles Kevin Mcarthur purchased 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of C$17.23 per share, with a total value of C$430,842.13. Also, Senior Officer Zenon Wozniak sold 40,000 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of C$21.11, for a total transaction of C$844,400.00. Insiders own 19.35% of the company’s stock.

About First Quantum Minerals

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite.